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The hotel industry in the GCC region will see its room inventory grow exponentially, with over 170,000 hotel rooms under development. This figure accounts for 40% of the existing room population in the area.
New research by STR, commissioned by the Arab Travel Market (ATM), reveals that the region has four times the number of hotel rooms planned or under development by September 2022 compared to the industry’s global average.
On the global stage, the UAE, Saudi Arabia, and Qatar host or plan major events/initiatives that can be attributed to this growth in the hospitality industry. Expo 2020 Dubai, 2022 FIFA World Cup in Qatar, Vision2030 in Saudi Arabia, the upcoming bid to host the Asian Cup and other sporting events, music festivals featuring international artists are some examples.
Danielle Curtis, exhibition director at Arabian Travel Market, said in a media statement: “Between Expo 2020, the 2022 FIFA World Cup and Saudi Arabia’s ambitious Vision2030 strategy, the hotel industry in the GCC is growing in comparison to global hotel development. The channel remains strong, with the latter moderating due to weaker economic growth forecasts.
Dubai, Ras Al Khaimah lead
The STR report shows that the UAE has more than 202,000 existing rooms and is expected to add 8,910 rooms as of September. This means that at least 251,000 rooms in the UAE will be available to hotel guests by 2030.
Dubai topped the list, with Ras Al Khaimah in second, with more than 5,000 rooms, the report said. The number of active pipelines in Ras Al Khaimah matches the combined stock of upcoming Sharjah, Abu Dhabi and Fujairah – a testament to the emirate’s renewed focus on tourism.
The UAE has been showing positive numbers in the sector, with supply growing by 68% from 2010 to 2019.
ATM 2023
The 30th edition of the International Travel Event for Inbound and Outbound Travel Professionals will be held at the Dubai World Trade Center from 1-4 May 2023 with the official theme “Towards Net Zero”.
ATM 2023 aims to attract more than 26,000 visitors and 34,000 participants for the upcoming edition. It was developed specifically to address sustainability issues across the tourism industry, with comments from leading figures representing various sectors.
Strategic partners for ATM 2023 include Dubai Tourism as Destination Partner, Emirates as Official Airline Partner, IHG Hotels & Resorts as Official Hotel Partner and Al Rais Travel as Official DMC Partner.
ATM 2022 attracted more than 24,000 visitors and hosted more than 31,000 participants, including 1,600 exhibitors and attendees from 151 countries.
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